Update token.md #483
Update token.md #483
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have changed copy here to show the new token calculation equation.
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WalkthroughThe documentation for token supply and inflation was rewritten to provide a detailed account of initial token issuance, allocation, and vesting mechanics. The update introduces the vCOW vesting token, clarifies the circulating supply calculation, and removes the previous inflation schedule, focusing on distribution and vesting specifics. Changes
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Actionable comments posted: 0
🧹 Nitpick comments (9)
docs/governance/token.md (9)
34-38: Clarify token issuance statement
The line doesn’t specify that these are COW tokens, nor expand the TGE acronym. Consider rephrasing for clarity:- There were 1 billion tokens issued during the TGE. + There were 1 billion COW tokens issued at the Token Generation Event (TGE).
40-58: Improve consistency and grammar in the distribution section
- Standardize “billion” lowercase for consistency with other docs.
- The phrase “stakes on the protocol” is awkward; “stakes in the protocol” reads more naturally.
- The CoWmunity Investment bullet repeats “protocol.” Streamline it as shown:
- The allocation of the initial 1 Billion COW token supply is as follows: + The allocation of the initial 1 billion COW token supply is as follows: - CoWmunity Investment: 10%, as an option to increase early users' stakes on the protocol in exchange for a financial contribution to the protocol, fostering engagement and long-term commitment from the broader CoW Protocol community. + CoWmunity Investment: 10%, offering early users the opportunity to increase their stakes in the protocol through a financial contribution, fostering long-term commitment from the community.🧰 Tools
🪛 LanguageTool
[uncategorized] ~54-~54: The preposition ‘in’ seems more likely in this position.
Context: ... option to increase early users' stakes on the protocol in exchange for a financia...(AI_HYDRA_LEO_REPLACE_ON_IN)
61-74: Rephrase for clarity and conciseness
The vCOW description can be combined into one clearer sentence. For example:- vCOW is a separate token contract with token holders that was issued during the TGE. The contract exposes a “swap” function allowing the conversion of vCOW into COW at 1:1. + vCOW is a vesting token contract issued at the Token Generation Event (TGE); it provides a `swap` function to convert vCOW into COW on a 1:1 basis.🧰 Tools
🪛 LanguageTool
[uncategorized] ~65-~65: Possible missing comma found.
Context: ... the TGE. The contract exposes a “swap” function allowing the conversion of vCOW into CO...(AI_HYDRA_LEO_MISSING_COMMA)
75-84: Specify “tokens” and improve terminology
- “all vCOW” should read “all vCOW tokens” for precision.
- Simplify the parenthetical percentage remark:
- Historically, all vCOW was excluded from circulating supply, but as the number of COW token holders has increased, we have updated our API to reflect how much vCOW is not swappable. + Historically, all vCOW tokens were excluded from circulating supply. We’ve updated our API to deduct only the unvested portion of vCOW (currently ~25%) from total supply, which increases reported circulation.
85-95: Clarify formula and formatting
- Reword the introduction and format the formula as inline code for readability:
- The current formula CoW DAO uses to calculate circulating token supply is the following: + CoW DAO uses the following formula to calculate circulating token supply: - Circulating Supply = Total Supply - Unvested Tokens - DAO Treasury Holdings + `Circulating Supply = Total Supply - Unvested Tokens - DAO Treasury Holdings`
101-101: Use a proper heading instead of bold text
Markdownlint flags emphasis as a heading. Replace with heading syntax:- **1. Total Supply (1 Billion COW)** + ### 1. Total Supply (1 billion COW)🧰 Tools
🪛 markdownlint-cli2 (0.17.2)
101-101: Emphasis used instead of a heading
null(MD036, no-emphasis-as-heading)
111-111: Use a proper heading instead of bold text
Convert emphasis to a subheading:- **2. Unvested COW Tokens** + ### 2. Unvested COW Tokens🧰 Tools
🪛 markdownlint-cli2 (0.17.2)
111-111: Emphasis used instead of a heading
null(MD036, no-emphasis-as-heading)
125-125: Use a proper heading instead of bold text
Convert to a heading for consistency:- **3. DAO Treasury Holdings** + ### 3. DAO Treasury Holdings🧰 Tools
🪛 markdownlint-cli2 (0.17.2)
125-125: Emphasis used instead of a heading
null(MD036, no-emphasis-as-heading)
135-135: Fix comma splice before “however”
Use a semicolon or split into two sentences:- These contracts were not developed nor deployed by CoW DAO, however, they are the bridged versions of the canonical token from Ethereum... + These contracts were not developed nor deployed by CoW DAO; however, they are the bridged versions of the canonical token from Ethereum...🧰 Tools
🪛 LanguageTool
[typographical] ~135-~135: The word “however” is an adverb that can’t be used like a conjunction, and therefore needs to be separated from the sentence.
Context: ...re not developed nor deployed by CoW DAO, however, they are the bridged versions of the ca...(HOWEVER_SENTENCE)
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docs/governance/token.md(1 hunks)
🧰 Additional context used
🪛 LanguageTool
docs/governance/token.md
[uncategorized] ~54-~54: The preposition ‘in’ seems more likely in this position.
Context: ... option to increase early users' stakes on the protocol in exchange for a financia...
(AI_HYDRA_LEO_REPLACE_ON_IN)
[uncategorized] ~65-~65: Possible missing comma found.
Context: ... the TGE. The contract exposes a “swap” function allowing the conversion of vCOW into CO...
(AI_HYDRA_LEO_MISSING_COMMA)
[typographical] ~135-~135: The word “however” is an adverb that can’t be used like a conjunction, and therefore needs to be separated from the sentence.
Context: ...re not developed nor deployed by CoW DAO, however, they are the bridged versions of the ca...
(HOWEVER_SENTENCE)
🪛 markdownlint-cli2 (0.17.2)
docs/governance/token.md
101-101: Emphasis used instead of a heading
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111-111: Emphasis used instead of a heading
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125-125: Emphasis used instead of a heading
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I have read the CLA Document and I hereby sign the CLA |
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| Historically, all vCOW was excluded from circulating supply, but as the number of COW token holders has increased, we have updated our API to reflect how much vCOW is not swappable. |
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Would change to "Historically, all vCOW was excluded from circulating supply, but as the amount of vested - and thus claimable - tokens is growing, we have updated our API to include how much vCOW is now swappable."
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| The change in the API now computes how much of vCOW is still not swappable (roughly 25% as we are one year before the end of the vesting schedule) and only deducts this from the total circulating supply (leading to an increase in circulating supply between the two calculations). |
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Would change to "The updated API now includes vested - yet unclaimed - vCOW tokens. This offers a more accurate representation of the circulating supply as vested vCOW tokens can be converted to COW any moment by their holders."
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| **2. Unvested COW Tokens** | ||
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| These are tokens that have been allocated (to team members, contributors, advisors, etc.) but are locked and not yet available for use or sale. |
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Would change to
"These are tokens that have been allocated (to team members, investors, advisors, etc.) but are not yet vested and therefore not yet available for use or sale."
have changed copy here to show the new token calculation equation.
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